Americans are a migratory bunch. We move for job opportunities, to be closer to the city (or farther), to be closer to family (or farther), or just because we love to adventure. Especially for young professionals, the lure to move to where the action is can be strong.
But the dream of owning a trendy loft in the heart of a big city doesn’t always come cheap. If relocation is in your future, here’s a look at the latest figures by the National Association of REALTORS© (NAR) on approximately how much income is needed to purchase a home in 10 big cities—the most expensive, and the least.
The honest answer to “How much salary may I need to buy a home?” is really an open question that depends partially on the cost difference of items on your “must-have” list, and that can include the type and size of home, the amount of land, the location, and a host of other factors.Read more